The Manufacturers Life Insurance Company Has $329,000 Position in Brookline Bancorp, Inc. (NASDAQ:BRKL)

The Manufacturers Life Insurance Company lowered its position in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 19.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,638 shares of the bank’s stock after selling 7,794 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Brookline Bancorp were worth $329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. American Century Companies Inc. increased its position in Brookline Bancorp by 21.1% during the 2nd quarter. American Century Companies Inc. now owns 1,431,291 shares of the bank’s stock valued at $11,951,000 after purchasing an additional 249,113 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Brookline Bancorp by 384.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 59,333 shares of the bank’s stock worth $599,000 after buying an additional 47,094 shares during the period. Intech Investment Management LLC grew its position in shares of Brookline Bancorp by 56.8% during the 3rd quarter. Intech Investment Management LLC now owns 64,001 shares of the bank’s stock worth $646,000 after buying an additional 23,172 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Brookline Bancorp by 47.5% in the 2nd quarter. AQR Capital Management LLC now owns 491,756 shares of the bank’s stock worth $4,106,000 after purchasing an additional 158,329 shares in the last quarter. Finally, Inspire Advisors LLC bought a new position in shares of Brookline Bancorp in the 2nd quarter worth $1,298,000. Institutional investors and hedge funds own 78.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods upgraded Brookline Bancorp from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $12.00 to $14.50 in a report on Wednesday, December 4th.

Brookline Bancorp Trading Down 0.3 %

NASDAQ BRKL opened at $12.56 on Monday. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 15.13 and a beta of 0.78. Brookline Bancorp, Inc. has a one year low of $8.01 and a one year high of $13.15. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.13 and a quick ratio of 1.13. The business’s fifty day moving average is $11.70 and its 200-day moving average is $10.25.

Brookline Bancorp (NASDAQ:BRKL) last posted its earnings results on Wednesday, October 23rd. The bank reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $165.91 million during the quarter, compared to analyst estimates of $88.67 million. Brookline Bancorp had a return on equity of 6.20% and a net margin of 11.40%. During the same quarter in the previous year, the firm earned $0.26 EPS. Equities research analysts predict that Brookline Bancorp, Inc. will post 0.82 EPS for the current year.

Brookline Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 4.30%. The ex-dividend date was Friday, November 15th. Brookline Bancorp’s dividend payout ratio is currently 65.06%.

Brookline Bancorp Profile

Brookline Bancorp, Inc operates as a bank holding company for the Brookline Bank that provide commercial, business, and retail banking services to corporate, municipal, and retail customers in the United States. Its deposit products include demand checking, NOW, money market, and savings accounts. The company’s loan portfolio primarily comprises first mortgage loans secured by commercial, multi-family, and residential real estate properties; loans to business entities comprising commercial lines of credit; loans to condominium associations; loans and leases used to finance equipment for small businesses; financing for construction and development projects; and home equity and other consumer loans.